Business Basics for Teenagers Worksheet

Entrepreneurship lesson 23: Business basics for teens · Set 598 · 40 questions

Business tip (Revenue in, profit left): Sole trader: one owner, keeps all the profit, owes the debts, simplest to start. Company: a separate legal body, owned by shareholders, run by directors, owners’ risk limited. Revenue = price × number sold. Profit = revenue − costs, so costs = revenue − profit. Teens run a business with adult help; tax and legal questions go to an adult or an expert.

1. 1.📊 Revenue or profit: all money from sales? (a) profit (b) revenue
2. 2.🏢 Sole trader or company: owned by shareholders? (a) a sole trader (b) a company
3. 3.A small business sells 54 glasses of chai at ₹25 each. Its costs are ₹820. What is its profit (in ₹)?
4. 4.📊 Revenue or profit: price × number sold? (a) profit (b) revenue
5. 5.A small business sells 30 clay diyas at ₹40 each. Its costs are ₹820. What is its profit (in ₹)?
6. 6.A small business sells 40 clay diyas at ₹20 each. Its costs are ₹740. What is its profit (in ₹)?
7. 7.A small business sells 48 clay diyas at ₹50 each. Its costs are ₹200. What is its profit (in ₹)?
8. 8.🎂 Can a 14-year-old run a business on their own? (a) only at night (b) yes, no one needed (c) never ever (d) only with adult help
9. 9.Which of these is true of a company? (a) run by directors (b) owner keeps all profit (c) simplest to start (d) one owner runs it
10. 10.A small business selling cupcakes had a revenue of ₹385 and a profit of ₹345. What were its costs (in ₹)?
11. 11.A small business sells 25 friendship bands at ₹40 each. What is its revenue (in ₹)?
12. 12.A small business sells 28 cupcakes at ₹45 each. What is its revenue (in ₹)?
13. 13.True or false: “simplest to start” is true of a sole trader. (a) True (b) False
14. 14.🏢 Sole trader or company: owners’ risk is limited? (a) a company (b) a sole trader
15. 15.📊 Revenue or profit: revenue minus costs? (a) revenue (b) profit
16. 16.🏢 Sole trader or company: owner owes the debts? (a) a sole trader (b) a company
17. 17.🏢 Sole trader or company: run by directors? (a) a company (b) a sole trader
18. 18.True or false: “owner keeps all profit” is true of a company. (a) True (b) False
19. 19.True or false: “owner keeps all profit” is true of a sole trader. (a) False (b) True
20. 20.📊 Revenue or profit: goes up if costs fall? (a) profit (b) revenue
21. 21.A small business sells 43 painted pebbles at ₹25 each. Its costs are ₹270. What is its profit (in ₹)?
22. 22.A small business selling clay diyas had a revenue of ₹1740 and a profit of ₹1730. What were its costs (in ₹)?
23. 23.👤 A sole trader is… (a) a school club (b) a big company (c) a one-owner business (d) a bank
24. 24.🏢 A company is owned by… (a) the government always (b) its suppliers (c) its customers (d) its shareholders
25. 25.True or false: “a separate legal body” is true of a company. (a) True (b) False
26. 26.📜 Who should explain tax or legal rules for a business? (a) a random video (b) a classmate (c) nobody (d) an adult or an expert
27. 27.🏢 Sole trader or company: a separate legal body? (a) a company (b) a sole trader
28. 28.A small business sells 17 clay diyas at ₹40 each. Its costs are ₹240. What is its profit (in ₹)?
29. 29.A small business sells 40 cups of lemonade at ₹20 each. What is its revenue (in ₹)?
30. 30.Which of these is true of a sole trader? (a) a separate legal body (b) owners’ risk is limited (c) owned by shareholders (d) owner owes the debts
31. 31.🏢 Sole trader or company: simplest to start? (a) a sole trader (b) a company
32. 32.True or false: “run by directors” is true of a company. (a) True (b) False
33. 33.A small business sells 33 bags of popcorn at ₹10 each. What is its revenue (in ₹)?
34. 34.A small business sells 47 handmade cards at ₹20 each. What is its revenue (in ₹)?
35. 35.True or false: “simplest to start” is true of a company. (a) False (b) True
36. 36.A small business selling cups of lemonade had a revenue of ₹500 and a profit of ₹380. What were its costs (in ₹)?
37. 37.🏢 Sole trader or company: one owner runs it? (a) a sole trader (b) a company
38. 38.A small business sells 49 clay diyas at ₹10 each. What is its revenue (in ₹)?
39. 39.A small business sells 17 cups of lemonade at ₹5 each. What is its revenue (in ₹)?
40. 40.A small business sells 23 glasses of chai at ₹5 each. Its costs are ₹50. What is its profit (in ₹)?

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